Forex Technical Analysis & Forecast 19.03.2020

EURUSD, “Euro vs US Dollar”

After breaking 1.0960 downwards and then reaching 1.0801, EURUSD has completed the ascending impulse at 1.0980 along with the descending structure towards 1.0880. Possibly, today the pair may consolidate between two latter levels. If later the price breaks this range to the downside at 1.0870, the market may resume trading inside the downtrend to reach 1.0760; if to the upside at 1.0980 – start a new correction with the target at 1.1055.

GBPUSD, “Great Britain Pound vs US Dollar”

After breaking 1.1844 and reaching 1.1450, GBPUSD is still moving downwards. Possibly, today the pair may consolidate. If later the price breaks this range to the downside at 1.1444, the market may resume trading inside the downtrend to reach 1.1265; if to the upside at 1.1666 – start a new correction with the target at 1.1844.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is growing with the target at 0.9764. The main scenario implies that the pair may correct to reach 0.9629 and then form one more ascending structure to reach the above-mentioned target. Later, the market may start a new correction towards 0.9577.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has reached the short-term target of the fifth ascending wave at 109.50. Today, the pair may correct to test 107.85 from above and then resume growing with the target at 110.39. After that, the instrument may start a new correction towards 105.80.

AUDUSD, “Australian Dollar vs US Dollar”

After finishing the descending structure at 0.5555, AUDUSD is correcting to test 0.5665 from below. Possibly, the pair may reach this level and form a new consolidation range. If later the price breaks this range to the downside at 0.5600, the market may resume trading inside the downtrend to reach 0.5370; if to the upside at 0.5730 – start a new ascending correction with the target at 0.5900.

USDRUB, “US Dollar vs Russian Ruble”

After breaking 75.00, USDRUB has reached 80.00. Today, the pair may correct towards to return to 75.00 and then form one more ascending structure with the target at 82.50.

USDCAD, “US Dollar vs Canadian Dollar”

After breaking the consolidation range to the upside and reaching 1.4660, USDCAD is forming a new consolidation range below this level. If later the price breaks this range to the upside, the market may resume trading inside the uptrend to reach 1.5000; if to the downside – start a new correction with the target at 1.4350.

XAUUSD, “Gold vs US Dollar”

Gold has completed the descending structure at 1480.80; right now, it is consolidating around this level. If later the price breaks this range to the downside, the market may resume trading downwards to reach 1407.70; if to the upside – start another growth with the target at 1525.00.

BRENT

After finishing the descending wave towards 24.30, Brent is consolidating around this level. If later the price breaks this range to the upside at 26.60, the market may resume trading upwards to reach 30.00; if to the downside at 24.24 – start a new decline with the target at 20.65.

BTCUSD, “Bitcoin vs US Dollar”

BTCUSD is still consolidating around 5100.00 without any particular direction. The main scenario implies that the instrument may expand the range up to 5800.00 and then resume trading downwards to break 4800.00. Later, the market may continue falling with the target at 3900.00.